SEC to Advance Capital Market, Corporate Reforms

The Securities and Exchange Commission (SEC) has reaffirmed its dedication to advancing policies and reforms aimed at enhancing the capital market, bolstering the corporate sector, and contributing to the country’s economic growth.

As it celebrates its 89th year in 2025, the SEC builds on its 2024 milestones, including initiatives to improve business processes, promote sustainability, expand the capital market, and protect investors.

SEC Chairperson Emilio B. Aquino highlighted the agency’s progress in digital transformation and reform implementation to foster a favorable business environment. Aquino emphasized the SEC’s ongoing commitment to strengthening the capital market to support a robust economy.

Driving Ease of Doing Business

In 2024, the SEC launched five digital platforms under its third wave of digital transformation. These included the SEC Zuper Easy Registration Online (ZERO) and the Electronic Submission Authentication Portal (eSAP), which streamlined business registration by eliminating the need for wet signatures, notarized documents, and hard-copy submissions.

The SEC also established the Foreign Investment Registration Station (FIRST) Green Lane Unit to prioritize applications from entities under the Foreign Investment Act, processing nearly 16,000 applications by November 2024.

Other platforms, such as the Swift Corporate and Other Records Exchange (SCORE) Protocol and the Electronic Application for Modification of Entity Names and Data (eAMEND), improved document exchanges with government agencies and simplified company information updates.

These efforts resulted in a 6% year-on-year growth in company registrations, with 49,432 new businesses registered by November 2024. The SEC’s digitalization initiatives earned international recognition, including the E-Governance Project of the Year-Regulatory award in Singapore and the AsiaCEO Circle of Excellence Award for Most Innovative Company.

Boosting Capital Market Growth

The SEC worked closely with stakeholders and implemented reforms to increase market participation, achieving a 23.6% year-on-year rise in market capitalization to PHP 20.12 trillion as of November 2024.

The agency also championed green financing, with ASEAN-labeled Green, Social, and Sustainability (GSS+) bonds reaching PHP 209.29 billion by November, a 602% increase from 2023. It approved the country’s first blue bond offering to fund marine ecosystem projects and sustainable wastewater management.

The SEC’s regulatory innovations included the launch of the SEC Strategic Sandbox (StratBox), enabling firms to test and introduce innovative financial products.

Advancing Sustainability

The SEC launched the Sustainable Enterprise Collaboration Network (eSECnature) in July 2024, fostering public-private collaboration to promote sustainable practices. Compliance with sustainability reporting among publicly listed companies remained high, with a 96% rate in 2023.

The SMILEES Roadshow, aimed at raising awareness and building sustainability capacity among small and medium enterprises, commenced in cities like Cebu, Davao, and Baguio, with plans to expand nationwide.

The SEC also advocated for the passage of the Environment, Social, and Governance (ESG) Bill, which would mandate sustainability reporting for all registered companies. Its sustainability initiatives earned the Philippines recognition from the United Nations Conference on Trade and Development and other global organizations.

Intensifying Investor Protection and Education

Investor protection remained central to the SEC’s mandate. It issued 106 advisories, 18 cease-and-desist orders, and 24 revocation orders to combat fraudulent activities in 2024. The agency also filed criminal complaints against 68 individuals involved in illegal investment schemes.

To boost financial literacy, the SEC celebrated Investor Protection Week with educational campaigns inspired by Disney Pixar’s “Inside Out,” teaching effective money management through relatable emotions. It also organized an investor fair and launched an extensive campaign against advance fee loan scams, earning a Presidential Communications Office award for its innovative digital efforts.

The SEC’s multifaceted approach continues to set benchmarks for good governance, capital market reform, and corporate sector growth in the Philippines.